Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : The article explains who can file appeals before the Income Tax Appellate Tribunal, the orders that are appealable, applicable tim...
Income Tax : The Tribunal held that additions cannot stand without a clear link between seized material and the assessee. It ruled that third-p...
Income Tax : Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. ...
Income Tax : CBDT's new Compounding of Offence Guidelines (2024) simplify the process but maintain strict compliance rules. Learn about eligibi...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : Gujarat High Court held that rejection of a Vivad se Vishwas declaration was invalid because final assessment arose from survey pr...
Income Tax : The Tribunal held that an addition under Section 69 could not be sustained solely on the basis of a seized loose sheet without ind...
Income Tax : The ITAT held that assessments under Section 153A were invalid because no search warrant was issued in the assessee’s name. As t...
Income Tax : The ITAT Hyderabad held that the assessment orders were time-barred under Section 153 despite the DRP process. Both assessments we...
Income Tax : The ITAT held that limitation under Section 153B had to be computed from the searched person's last panchanama, making the assessm...
Income Tax : Central Government has decided to extend the time limits to 30th June, 2021 in the following cases where the time limit was earlie...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
The Gujarat High Court held that reassessment under Section 148 cannot be based on third-party loose papers that fail to establish a live link with the assessee. The Court quashed the notice as the material was vague and unrelated to the petitioner’s transaction.
The ITAT Delhi held that a consolidated satisfaction note covering several assessment years without year-specific analysis failed to satisfy the mandatory requirements of Section 153C. It quashed the assessment and dismissed the Revenue’s appeal.
The ITAT Hyderabad held that an uncorroborated loose sheet could not justify an addition under Section 69 for alleged on-money payment. The Tribunal upheld deletion of the addition as no independent evidence supported the Revenue’s case.
ITAT Jaipur held that assessments initiated under Section 153C were time-barred under every possible computation of limitation. The assessment orders were declared void ab initio and quashed.
ITAT Hyderabad held that an addition under Section 69 cannot be sustained solely on the basis of an uncorroborated loose sheet. The Tribunal ruled that independent evidence is necessary to establish alleged on-money payments.
The ITAT Mumbai held that where additions were based on seized material from a third-party search, proceedings should have been initiated under Section 153C and not Section 147. The assessment was declared invalid.
The article explains who can file appeals before the Income Tax Appellate Tribunal, the orders that are appealable, applicable timelines, fees, stay provisions, and procedural requirements.
ITAT Ahmedabad upheld reassessment proceedings after finding that seized diaries recorded unaccounted cash transactions exceeding prescribed limits. The Tribunal held that statutory conditions for reopening were satisfied.
The Tribunal ruled that Section 153C requires the AO of the other person to independently assess whether seized documents have a bearing on that person’s income. A mechanical satisfaction note based solely on another officer’s communication was held invalid.
Jaipur ITAT held that reassessment proceedings were invalid because the Assessing Officer mechanically relied on Investigation Wing information without conducting independent verification.
